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Maine Debt Collector Bond

Bond Requirements and Online Application

The Maine Debt Collector Bond is required by the Maine Superintendent of the Bureau of Consumer Credit Protection. Rule 300 determines the bond amount.

New applicants doing direct collections must get a $20,000 surety bond. Those who only do repossessions need a $15,000 bond.  A letter writing company will only a $5,000 surety bond. Maine Debt Collector Bond

The bond states that the bondholder shall report and pay to its customers the net proceeds due of all collections made within a 30 day time period.  Likewise, they must deliver all repossessed property. In addition, they shall strictly, honestly, and faithfully comply with all provisions of state law.

 A Debt Collector are persons whose principal purpose of business is the collection of any debts directly or indirectly owed or due or asserted to be owed or due to another. A license is required if the Debt Collector is a Maine resident  and the business is located in Maine. Non-residents who attempt to collect debts incurred between a Maine resident and a business located in Maine must also be licensed. In addition, a license is required if the collector engages in face-to-face solicitation. The Maine Debt Collector Bond is just one of the requirements in the licensing process.

What are other Licensing Requirements?

  • $600 application fee. $300 if the months between the date of application and renewal is less than 12 months. 
  • Fingerprint card of the owner, each partner or officer, if applicable.
  • Financial statement consisting of a Review Report, prepared by an accountant.
  • Specimen form letters, listing sheets, remittance sheets, and work cards.
  • Completed Debt Collector License application form.

Why should I choose Surety1 for my bond needs?

With Surety1, you not only get the Maine Debt Collector Bond at the best rate possible, you also get it FAST. Through our partnership with several A-rated surety companies, we offer the lowest rates in the market today.

First, complete our easy to navigate, free online application form Next, you will be contacted by one of our licensed agents with a no-obligation quote on the bond premium. Finally,  when you’re ready to proceed, pay the premium, sign the agreement and the bond gets mailed right away.

This reliable service has earned us an A+ rating from the Better Business Bureau.





How to Get Your Maine Debt Collector Bond

1. Complete an online application. It's free and no-obligation. 2. One of our surety experts will contact you with a firm quote and an agreement to sign. 3. Provide payment and your signed agreement, and then you will receive your Maine Debt Collector Bond!   If you have any questions, please call us at 877-654-2327.
1. Apply Online Using our Free & Secure Application 2. Get Your Free Quote Applications are No-Obligation 3. Get Your Bond Most Bonds are Approved in 1-2 Business Days